News
IMF extends food shock window despite low demand
Fund postpones end to looser caps on emergency credit
Largest US banks pass the Fed’s stress test
Scenario saw banks continue lending despite losses three times greater than those of 2008 crisis
Italian and Portuguese leaders criticise ECB policy
Right-wing Meloni and centre-left Costa both sound warning notes on rates
Argentina increases use of Chinese currency
Authorities repay IMF in renminbi, and allow it for local current and savings accounts
Brazil moves to adopt new targeting regime
National monetary council says it will aim for permanent inflation target from 2025
Kenya hikes 100 basis points at unplanned meeting
New governor says unexpected rise in inflation made rate increase necessary
New Zealand sets up its first deposit insurance scheme
RBNZ will run levy-funded scheme, which is set to become operational in 2024
Sri Lanka calls five-day bank holiday for loan restructuring
Plan offers domestic creditors a choice of haircuts, after IMF says authorities must act on debt
Israeli government clashes with governor over banking law
Governor says law “crosses a red line” on independence, but pushes banks to raise rates
Riksbank raises rates and signals further tightening
Swedish central bank accelerates government bond sales and is looking to hedge currency risk
BoE proposes ‘Solvency UK’ insurance reforms
Government overruled central bank on tightening a key element of the rules
MAS proposes raising deposit insurance cap
Singaporean central bank says the change will mean 91% of depositors are fully covered by scheme
FATF finds global crypto AML failures
Most jurisdictions “struggle with fundamental requirements”
Policy has not been tight long enough – governors
Hot labour markets boost wages and core inflation, making inflation persistent
New Zealand rejects RBNZ’s call for single price-stability goal
Updated central bank remit retains twin goals of price stability and maximum sustainable employment
EC proposes legal tender status for digital euro
Legislation envisages digital wallet available on- and offline, while safeguarding cash
Ex-Fed vice-chair Quarles linked to bank seeking master account
Quarles’s involvement recalls controversy over Sarah Bloom Raskin
Italian government picks ECB’s Panetta as new governor
Italy may struggle to maintain seat at ECB’s executive board if Panetta heads Bank of Italy
SNB to test wholesale CBDC in real-world pilot
Tokenised assets will be settled on the SIX Digital Exchange
Austria introduces new clearing service
Central bank welcomes lender-owned company’s oversight of new system
ECB ‘cannot declare victory yet’ over inflation – Lagarde
President stresses rates will need to be higher for longer to defeat persistent inflation
Caution needed with forward guidance and QE – IMF’s Gopinath
“Straitjacket” of ultra-loose policies may have delayed response to inflationary shock
Fed’s Bowman questions Barr’s bank failures report
Governor says supervision is preferable to higher capital requirements
SBP reverses course and hikes rates 100bp
State Bank of Pakistan raises key rate in emergency session as IMF deadline looms